Vivakor closes $12M institutional convertible note offering, enters $100M equity line

Vivakor, Inc.

First closing of $6M received; second $6M tranche pending; total gross proceeds $12M from convertible notes with $15M principal (20% OID).
Notes convertible at greater of $0.37 or 80% of lowest 5-day VWAP; conversion capped at 4.99% beneficial ownership unless waived.
Entered $100M standby equity purchase agreement (SEPA) with 36-month term; shares sold at 94% of lowest 3-day VWAP.
Net proceeds for working capital, debt reduction, and commissioning of RPC in Houston, Texas.
Placement agent RBW Capital Partners received $540K cash fees and $100K legal fees.

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